#need help with mcq

How can a marketer provide value pricing?

Offer coupons

Add discounts for bulk orders

Occasionally provide two-for-one deals

Give away free samples

Lower prices by removing less important features

A company using the ____ will mass-produce the cheapest goods with high efficiency.

sales philosophy

production philosophy

societal philosophy

product philosophy

marketing philosophy

A need is ____.

a desire for unnecessary products or services

a gap between a desired state and the actual state

determined by marketers

the willingness and ability to buy a product

used for all consumer decisions

What is the difference between ethical and legal standards?

Ethical standards are the same for everyone while legal standards vary from person to person.

Ethical standards are always changing, while legal standards remain the same.

Ethical and legal standards are the same.

Ethical standards vary from person to person while legal standards are the same for everyone.

Ethical standards remain the same, while legal standards are constantly changing.

Which of the following is not an environmental factor?

Economic factors

Social trends

Technological advancements in the industry

Growing ethnic markets

Corporate factors

The level of ____ depends on customer expectations.

seller value

customer satisfaction

customer value

product value

sales

Of the following, the most prosperous generation with the highest disposable income is ____.

generation Y

generation X

the silent generation

Millennials

baby boomers

Consumers are most likely to use ____ for products with low social visibility and involvement cost.

extensive decision making

routine response behavior

contemplative response behavior

limited decision making

arms-length decision making

The main reason for opposing globalization is that ____.

smaller companies are unable to compete with multinationals

production is becoming too efficient

products are becoming more expensive

it is bad for the countries involved

participating economies will experience inflation

At Wells Fargo, customers can obtain a large variety of services, including free financial education and budgeting tools, credit score reports, and retirement planning services. Wells Fargo is incentivizing their customers to remain with the company through ____.

relationship marketing

customer value

customer satisfaction

strategic planning

customer marketing